SCENARIO 1-1 The Manager of the Customer Service Division of a Major

question 157

Multiple Choice

SCENARIO 1-1
The manager of the customer service division of a major consumer electronics company is interested in determining whether the customers who have purchased a Blu-ray player made by the company over the past 12 months are satisfied with their products.
-Referring to Scenario 1-1,the possible responses to the question "What brand of Blu-ray player did you purchase?" are values from a

• A)discrete numerical variable.
• B)continuous numerical variable.
• C)categorical variable.
• D)table of random numbers.

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Definitions:

Spot Checks

Random inspections or audits conducted without prior notice to ensure compliance or verify the quality of ongoing activities.

Quality

How well a product or service fulfills or goes beyond what customers anticipate.

Agency Costs

The costs associated with resolving conflicts of interest between principals and agents, including monitoring and incentive expenses.

Principals

Individuals or entities that authorize agents to act on their behalf in business transactions.